New Delhi, Feb. 28 -- Households in both urban and rural India are likely to spend more on discretionary products such as apparel, footwear, travel, and wellness by the end of the decade, fuelled by a doubling of per capita income by 2030, and availability of more avenues to indulge, according to a Deloitte India and Retailers Association of India report. In urban households, food and food service expenses on staples, packaged food, dining out, and alcohol or tobacco may fall from 42.2% in 2023 to 40.45% by 2030.
Conversely, spending on travel and recreation is expected to rise to 15% by 2030, up from 11.37% in 2023. Similarly, expenditures on health (medical expenses), wellness, fitness, and beauty and personal care are anticipated to swe...